I have a three node cluster. I want to take full database and object level backups daily. I don't have any where else to put the backup files other than on the nodes themselves.

Will the following strategy be ok?

On node 1, run vbr.py scripts to do full backup and schema level backup of node 1, 2 and 3 to local storage on node 1
On node 2, run vbr.py scripts to do full backup and schema level backup of node 1, 2 and 3 to local storage on node 2
On node 3, run vbr.py scripts to do full backup and schema level backup of node 1, 2 and 3 to local storage on node 3

I figure by doing that I will have three copies of the backups.

Question: If my node 1 does fail, and I have to install a new node 1 to replace the failed node, will I be able to restore it from either the full backup on node 2 or the full backup on node 3?

>> If my node 1 does fail, and I have to install a new node 1 to replace the failed node, will I be able to restore it from either the full backup on node 2 or the full backup on node 3?
Yes (full and object-level MUST be in same location!)
BTW: you can restore it without a backup of failed node (3 nodes => K-SAFETY 1, so 1 node can fail). Vertica knows how to re-balance data in case of new node added.

Other strategy - backup with shifting(offset):
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* node1 do backup to node2
* node2 do backup to node3
* node3 do backup to node1
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This method very similar to Vertica HA approach - K-SAFETY